Russian trade with South Korea in the 4th quarter of 2016

by Russian Foreign Trade
based on data from the Federal Customs Service of Russia

The Report on Russia’s foreign trade in goods with South Korea in the fourth quarter of 2016: exports, imports, products, dynamics.

Russia’s Trade with South Korea

In the 4th quarter of 2016, Russia’s trade with South Korea was $4,091,393,862, down 13.57% ($642,392,848) from the 4th quarter of 2015.

Russia’s exports to South Korea in the 4th quarter of 2016 were $2,590,386,462, down 28.20% ($1,017,503,686) from the 4th quarter of 2015.

Russia’s imports from South Korea in the 4th quarter of 2016 totaled $1,501,007,400, up 33.32% ($375,110,838) from the 4th quarter of 2015.

Russia’s trade surplus with South Korea in the 4th quarter of 2016 was $1,089,379,062, a 56.11% decrease ($1,392,614,524) over the 4th quarter of 2015.

South Korea was Russia’s 9th largest trading partner in the 4th quarter of 2016 (just as in the 4th quarter of 2015), accounting for 3.0024% of Russia’s total trade (down from 3.6200% in the 4th quarter of 2015).

South Korea was Russia’s 10th largest export market in the 4th quarter of 2016 (down from 7th in the 4th quarter of 2015), accounting for 3.0898% of Russia’s total exports (down from 4.3768% in the 4th quarter of 2015).

South Korea was Russia’s 8th largest supplier in the 4th quarter of 2016 (up from 9th in the 4th quarter of 2015), accounting for 2.8628% of Russia’s total imports (up from 2.3293% in the 4th quarter of 2015).

Russia’s Exports to South Korea

The major share of Russian exports to South Korea in the 4th quarter of 2016 (and in the 4th quarter of 2015) was accounted for the following product types:

Mineral products (HS codes 25-27) - 73.47% of Russia’s total exports to South Korea (76.76% in the 4th quarter of 2015);

Food products and agricultural raw materials (HS codes 01-24) - 12.30% of Russia’s total exports to South Korea (7.12% in the 4th quarter of 2015);

Metals and products from them (HS codes 72-83) - 6.40% of Russia’s total exports to South Korea (5.38% in the 4th quarter of 2015);

Chemical products (HS codes 28-40) - 4.62% of Russia’s total exports to South Korea (6.15% in the 4th quarter of 2015);

Wood and wood products (HS codes 44-49) - 1.70% of Russia’s total exports to South Korea (1.55% in the 4th quarter of 2015);

Machinery, equipment and vehicles (HS codes 84-90) - 0.91% of Russia’s total exports to South Korea (2.96% in the 4th quarter of 2015).

The largest gains in Russia’s exports to South Korea in the 4th quarter of 2016 over the 4th quarter of 2015 were recorded for the following product groups:

Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $68,584,191;